St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-10
THE BALTIMORE & OHIO.
Reported Sale of the Il Oad TO Z, Pow.
erfuI Syndicate.


New YORK, March 9.-Mr Alfred
Sully was applied to by reporter to-day
for some statement in regard 10 the circum-
stantial reports that syndicate represented
by him has virtually concluded negotiations
with President Garrett of the Baltimore u
Ohio, for the purchase Of a controlling in
tereSt in that road and its dependencies.
Mr.. Sully said that he preferred to say
nothing until he could state something def
mite and that he was not vet in a position
TO do so. He admitted that it was pretty
well understood that the purchase had
been made. but said he was not prepared to
announce the names Of the parties con-
cefned or the terms of the agreement. 1t
wits reported today that the price paid by
the syndicate for the Baltimore u Ohio stock
was 225. but a well informed and prominent
banker said that he had good resson to be-
lieve that it was not much over 200. A
leading bank president, in commenting on
the importance of the reported sale. said
that the railroads represented in the pur-
chasing combination, or in harmony with
them, would have control of all the
anthracite coal territory in the country. AL
fred Sully is understood to represent the
interests of Austin Corbn. The Reading.
the Pennsylvania, the Jersey Central and
the New \ ok Central are all underst God
TO be parties to the great deal" A promi-
nent broker remarked to-day that the new
combination would represent the New York
Central, Erie, Pennsylvania Central and
the Reading and Jersey roads. The eXecu-
tive committee of the Richmond Terminal
company met to-day to consider the matter
of absorbing the Baltimore & Ohio and
other systems. Action was deferred till to-
lie understood hos Of
the Baltimore & Ohio Will be provided for
by a collateral trust in which the Baltimore
IL Ohio stock will be issued and bond taken
by a syndicate. The counsel for the COM
pany are now at work on the details of the
agreement.
TALK AT BALTIMORE.
BALTIMORE, March 9,-Much discussion
has been had this afternoon in regard to the
rumored deal. The 1900 shares of the
Baltimore 81 Ohio stock is believed by many
10 have been disposed of. Several of the
trustees were approached and they all de-
cllned to speak of the matter, The refusal
of the trustees to speak has led many to be-
leve that the university has sold its holding
Mr.. Garrett this evening was shown the lat
est dispatches from New York, and after
carefully reading them smiled and said: Il
have nothing to say. When | do have
cheerfully." While tonight the general
impression here is that some sort of ar
rangement has been made for the surrender
of the control of the Baltimore Il Ohio
road it is positively stated by gentleman
who is hear to Mr.. Garrett that no agree
ment or contract exists for such transfer.
He at the same time stated that a Syndi-
cate will probably be formed, of which MI
Garrett will be a member, for the working
of such railroad system as is spoken of.
He further said there is no law to prevent
the voting by proxy of all the shares owned
by the Garrett family and enough of others
to make majority of the stock for any deal
the road authorities may deem desirable.
He also said that $3.50 per share had been
offered and refused for transfer of ma
ioritv of the stock. 1t was said this even
ing that an offer of $4,000 900 had been
made for the Baltimore 81 Ohio telegraph
system, and 1000 900 for the express
business, both of which had been declined.
The determined refusal of Mr.. Garrett to
confirm or deny any of the statements
made. leave the people in anxiety. Those
who have always been staunch friends of
the road will not believe that any transfer
of the control of the road has been or will
be made.
DENIAIS.
PHILADELPHIA, March 9.-The Ledger
In its financial article tomorrow referring
to the alleged Baltimore & Ohio deal"
will say:
In the various reports that have got nto
circulation in newspapers and on the news
tapes there have been united in the alleged
syndicates who are supposed to be buying
the Baltimore s. Ohio railroad, great many
large railway corporations and bankers. We
have made inquiry on the subject and are
able to report as the result that the Pennsy-
yania road and the Lehigh Valley road have
no connection with the deal; that the control
ing powers in the Reading management have
nothing to do with it, and that company can
not be used by this syndicate in any connec-
tion: that the friends of Austin Corbin deny
that he has anything to do with the move
ment.
The following is also published: ':As
the matter now stands Mr.. Garrett has
given written agreement of what he will
do in the premises, and this Includes call
ON majority of the stock at a figure said
to be between 200 and 300. Mr.. Sully and
Garrett have signed preliminary contract,
and the finances of the Baltimore d Ohio
road are being examined by parties ident
fed with the First National bank syndicate
which is to furnish the money to buy the